Business
PH to achieve upper middle-income status by 2025
July 19, 2023, 8:13 pm
MANILA – The Philippines is on track to be an upper middle-income country by 2025, National Economic and Development Authority (NEDA) Secretary Arsenio Balisacan said on Wednesday. "We are on track and the upper middle-income country status will be achieved in 2025 based on our estimates given… Read More
PSEi up on positive local data, mirrors US markets; peso down
July 19, 2023, 7:32 pm
MANILA – The Philippine Stock Exchange index (PSEi) ended Wednesday’s trading in positive territory, mirroring gains in the United States equities markets, while the peso depreciated. The PSEi closed 13.11 points higher to a 6,541.91 finish, with all shares at 3,490.91, gaining by 8.16… Read More
NEDA launches dashboard for infra flagship projects monitoring
July 19, 2023, 7:12 pm
MANILA – The National Economic and Development Authority (NEDA) on Wednesday launched the Infrastructure Flagship Projects (IFPs) dashboard to better monitor IFPs. The dashboard is a publicly available interactive tool that provides an overview of the 194 IFPs, highlighting their status, cost… Read More
PEZA eyes return to P300-B investment approvals in 2023
July 19, 2023, 6:07 pm
MANILA – Philippine Economic Zone Authority (PEZA) Director General Tereso Panga is hopeful that the agency can return to PHP300 billion-mark in terms of investment approvals this year. “That's still doable even in 2023 if the big (ticket investment) leads (in the pipeline) will proceed with… Read More
PLDT named PH’s most valuable brand at $2.6B
July 19, 2023, 5:54 pm
MANILA – PLDT Inc. (PLDT) is the most valuable brand in the Philippines based on an independent 2023 study by Brand Finance, a London-based business valuation and strategy consulting firm. With a 2 percent annual increase in brand value to USD2.6 billion, the performance of the country’s… Read More
Small resto owners urged to tap digital platform
July 19, 2023, 5:23 pm
MANILA – In line with the government’s push for micro, small and medium enterprises (MSMEs) to digitize their operations, food and grocery online platform foodpanda has encouraged small restaurant owners to tap the digital market. In a statement Wednesday, foodpanda Philippines commercial… Read More
NEDA Board OKs NAIA rehab, 2 other infra projects
July 19, 2023, 4:38 pm
MANILA – The National Economic and Development Authority (NEDA) Board chaired by President Ferdinand R. Marcos Jr. approved on Wednesday the solicited proposal to rehabilitate and expand the Ninoy Aquino International Airport (NAIA) Public-Private Partnership (PPP) Project. In a briefing, NEDA… Read More
ADB projects PH to post highest growth in Southeast Asia
July 19, 2023, 1:25 pm
MANILA – The Asian Development Bank (ADB) on Wednesday maintained its 2023 Philippine economic growth projection, forecasting the country as the fastest-growing economy in Southeast Asia this year. In its ADB Outlook July Update, the bank said the country's gross domestic product (GDP) will… Read More
BSP urges public to use coins for payments
July 18, 2023, 9:41 pm
MANILA – The public is encouraged to use their coins for payments, with the central bank hiking to PHP2,000 each the legal tender limit per transaction for PHP1, PHP5, PHP10, and PHP20 coins. Meanwhile, legal tender limit per transaction for PHP0.1, PHP0.5, PHP0.10 and PHP0.25 coins is now… Read More
Digitalization initiatives to accelerate MSME growth
July 18, 2023, 9:02 pm
MANILA – Department of Trade and Industry (DTI) Secretary Alfredo Pascual has unveiled major initiatives that will accelerate the growth of micro, small, and medium enterprises (MSMEs), especially through digitalization. During the National MSME Summit 2023 held in Manila Tuesday, Pascual,… Read More
Negative sentiments on China impact PH shares, peso on Tuesday
July 18, 2023, 8:57 pm
MANILA – Both the Philippine shares and the peso shed on Tuesday’s trading as China’s missed second quarter economic growth resulted to a ripple effect in Asian markets. The Philippine Stock Exchange index (PSEi) finished the day’s trading losing 21.96 points to 6,528.80, with All… Read More
Business sector 'bullish' about MIF, but awaits next SONA
July 18, 2023, 7:53 pm
MANILA – Stock market insiders welcomed Tuesday’s enactment of the Maharlika Investment Fund (MIF), but said the bullishness it will bring to trading will likely occur after President Ferdinand R. Marcos, Jr. delivers his second State of the Nation (SONA) address next week. In an interview,… Read More
BOI approvals increase threefold in H1 2023
July 18, 2023, 6:05 pm
MANILA – The Board of Investments (BOI) posted a threefold increment in investment approvals in January to June 2023 period, the agency reported Tuesday. BOI registered a total of PHP698 billion in the first half of the year, which is 203 percent higher than approved investments of PHP230… Read More
Maharlika Investment Fund to help achieve PH's development goals
July 18, 2023, 5:40 pm
MANILA – National Economic and Development Authority (NEDA) Secretary Arsenio Balisacan on Tuesday lauded the signing of the Maharlika Investment Fund (MIF) Act of 2023, saying this would help the country achieve its long-term development goals. Balisacan said the MIF would complement the… Read More
PH nickel sector sees further increase in global demand
July 18, 2023, 4:39 pm
MANILA – Nickel demand is expected to further increase, driven by the shift to smart cities and clean energy, but additional investments are needed to help the Philippine nickel industry take advantage of the global demand, the Philippine Nickel Industry Association (PNIA) said. In a statement… Read More
BTr fully awards re-issued T-bonds
July 18, 2023, 3:16 pm
MANILA – The Bureau of the Treasury (BTr) on Tuesday fully awarded the re-issued 7-year Treasury bonds (T-bonds). With a remaining term of six years and two months, the security fetched an average rate of 6.299 percent, lower than the coupon rate of 7.000 percent set on its first issuance in… Read More
PEZA endorses 8 ecozone projects worth P33B to FIRB
July 18, 2023, 3:00 pm
MANILA – The Philippine Economic Zone Authority (PEZA) has endorsed to the Fiscal Incentives Review Board (FIRB) eight big-ticket projects worth PHP33 billion that have been registered with the agency in the first half of the year. In a statement Tuesday, PEZA Director General Tereso Panga said… Read More
Maharlika Investment Fund to boost economic growth: DOF
July 18, 2023, 1:31 pm
MANILA – The Department of Finance (DOF) said the Maharlika Investment Fund (MIF) would help catalyze economic development and accelerate the country’s growth by optimizing the use of government financial assets. In a statement on Tuesday, the DOF said the passage of the Philippines’ first… Read More
PSEi slips on profit taking; peso ends sideways
July 17, 2023, 8:44 pm
MANILA – The local stock market shed on Monday on profit-taking while the peso ended sideways on hawkish signals from Bangko Sentral ng Pilipinas (BSP) officials. The Philippine Stock Exchange index (PSEi) slipped to 6,550.76 level as it shed 74.03 points during the day’s trading. All… Read More
Big-time oil price hike on July 18
July 17, 2023, 8:31 pm
MANILA – Petroleum companies have announced big-time price hikes effective 12:01 a.m. on Tuesday (July 18, 2023). In separate advisories on Monday, Caltex, Cleanfuel, Flying V, Petro Gazz, Petron, Phoenix, PTT, Seaoil, Shell, and Unioil said gasoline prices will increase by PHP1.90 per… Read More
